The bill amends sections 5747.08 and 5747.98 of the Revised Code and introduces new sections 5747.87 and 5747.88 to establish nonrefundable income tax credits for Ohio taxpayers. These credits are specifically for costs related to handgun training courses and the purchase of secure storage or locking devices for firearms, with each credit capped at $250 or the purchase price of the device, whichever is lower. The bill defines "secure storage device" and "locking device," and allows taxpayers to claim these credits in the taxable year they complete the training or make the purchase, following a prescribed order for claiming various tax credits.

Additionally, the bill outlines a new sequence for claiming tax credits under section 5747.02, starting with retirement income credits and concluding with other credits, including those for education and job training. It also prohibits the tax commissioner from maintaining a list of taxpayers who have claimed these new credits. The bill repeals existing sections 5747.08 and 5747.98 to streamline the process and clarifies that non-refundable credits cannot exceed the taxpayer's total tax liability for the year, with any excess credit eligible to be carried forward. These changes will take effect for taxable years ending on or after the bill's effective date.

Statutes affected:
As Introduced: 5747.08, 5747.98